What Is the Cost to Sell a House in Chicago?
What’s the cost to sell a house in Chicago, Illinois? Here’s a breakdown of expenses, including repairs, taxes, fees, commissions, and more.
The decision is final: you’re ready to sell your Chicago home. Now, it’s time for the more challenging part, determining the cost to sell a house in Chicago.
Your home is likely the single biggest asset you own. The median sold home price in Chicago is $355,000. Selling a home of that value requires careful planning, including understanding the associated costs, potential proceeds, and the duration your home might stay on the market, so you can make informed decisions about your next steps.
Connect With a Top Agent to Sell Your Chicago Home
It takes just two minutes to match clients with the best real estate agents, who will contact you and guide you through the process. To connect with an agent, simply tell us a little bit about your property and how soon you’re looking to sell.
Our data shows the top 5% of agents across the U.S. help clients sell their home for as much as 10% more than the average real estate agent.
In this post, we researched the expenses you can expect and gathered expert insights to help you get a better idea of the cost to sell a house in Chicago.
Chicago didn’t have the huge spike in pricing that some of the markets throughout the states [had]. The majority of the market has been fairly stable. There’s a lot of demand still because people find a lot of value in our market.
Santiago Valdez
Real Estate Agent
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Santiago Valdez
Real Estate Agent at CompassCurrently accepting new clients
- Years of Experience
22- Transactions
1212- Average Price Point
$335k- Condominiums
618
Housing trends in Chicago
While the median home sold price in Chicago is $355,000, the median listing price of Chicago homes — the assigned price when placed on the market — is $345,000. This is a positive indicator for home sellers, as it points to strong buyer demand, bidding wars, several offers above the asking price, and a high potential for higher profit.
Beyond median prices, how quickly homes sell is an indicator of the market’s temperament. The days on the market, or DOM, is the number of days a property has been on the market from listing through having a signed sales agreement. It is an important data point for buyers, as it provides a snapshot of the relative demand for a home in a particular region, state, or city.
The average DOM in Chicago is 41 days, suggesting a stable market for buyers and sellers.
Santiago Valdez is a HomeLight Elite Agent who sells homes more than 53% quicker than the average Chicago agent. He explains the Windy City’s market, “Chicago didn’t have the huge spike in pricing that some of the markets throughout the states [had]. The majority of the market has been fairly stable. There’s a lot of demand still because people find a lot of value in our market,” says Valdez.
What’s Your Chicago Home Worth Now?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Start with a home value estimate
A good first step in estimating the cost to sell a house in Chicago is getting a ballpark home value estimate.
The latest National Association of Realtors (NAR) data show that the median existing-home sales price increased by 4% from October 2023, the 16th consecutive month of year-over-year price gains. With home values and markets changing dramatically, now is an excellent time to check up on your home value. You may be pleasantly surprised to see what your house might be worth.
Request a quick online value estimate using HomeLight’s Home Value Estimator to get an initial idea. This free automated valuation model (AVM) tool uses recent sales transactions, local market trends, and your home’s latest selling price to provide a preliminary value range for your property in under two minutes. Just enter your address to get started.
How much does it cost to sell a house in Chicago?
The cost to sell a house in Chicago depends on several factors. Your specific situation may cost more or less. Based on our extensive research, which we’ll break down below, the typical cost to sell a house in Chicago can be more than 14% of the home’s selling price.
If you sell your home for the median home sold price in Chicago of $355,000, your seller costs might be around $53,250.
Your estimated out-of-pocket costs will depend on your unique situation and several variable factors. Below is a guide to the most common factors that influence the cost to sell a house in Chicago.
